Yes, it's true. Marco Island single-family home sales are lagging a little behind condos and lots as we move through the summer. Nobody is really complaining, though. What has been a busy season for all of us continues. Overall numbers are strong but single-family-homes are not quite keeping up with lots and condos. Of course, only taking June snapshots isn't the best analysis but it is a fast and dirty way to take the market's temperature.
Compared to June, 2011, SFHs sold are down 5%, avererage selling price is up 0.5% but the median price has fallen over 16%. The low median price number is certainly a shocker but I think we'll see prices bouncing in a range for some time.
Marco Island Condos, on the other hand, are having a fantastic summer. Units sold are up 26%, average selling price is up 9% and the median selling price, the important number to most sellers, is up 3.63%. Lot sellers are the big smilers right now. Lots sold have doubled from June 2011and the median price has jumped almost 9%. Average selling price skyrocketed but that number was skewed by some very high dollar lots selling.
Single-family homes will follow suit. A rising tide lifts all boats. And remember, we're just comparing two months to eachother and to get the full picture, we'd have to include some broader stats. This is just our summer-time dipstick. We'll take a broader look at the off-season sales in an upcoming article. So stay tuned.
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